This Valentine’s Day give your loved ones peace of mind. Do they understand what you want if you are no longer able to speak for yourself? There are tools for managing your money/estate and for giving directions for your health care needs when you are no longer able to speak for yourself.
To manage your finances while you are alive you can appoint an Enduring Power of Attorney (EPOA). This person can manage your estate and investments, pay bills and act on your behalf if you can no longer direct your affairs. It is a very important position and gives direction to ensure that your loved ones know what you want. Making an EPOA is a process so: carefully choose the type of Power of Attorney (specific to your needs); choose a trustworthy and ethical person(s); discuss details of how you want your funds to be handled with this person(s); receive consent to appoint the person(s) as EPOA. It is recommended that you appoint another individual as a Monitor and include how you wish the EPOA to report financial activities to your Monitor. The Monitor is there if financial concerns arise among family or friends and reduces the risk of your funds being misused.
For managing your estate and finances after your death those you care about are best served by having a registered will with current copies appropriately distributed.
To manage your health care decisions if you are no longer able to speak for yourself there are Representation Agreements and Advance Care Plans. A Representation Agreement names a specific person(s) to make certain health care decisions on your behalf. You need to write down what you want; have conversations with your loved ones and health care provider(s) so they can follow your wishes.
For more information contact the Nelson Elder Abuse Prevention Program at 250-352-6008 or log onto preventeldRabuse@sbdemail.com.